What Happened
Seven-Year Deal Supports Sustained Production Of Advanced Interceptors
Lockheed Martin has been awarded a $58.6 billion contract for the production of the Patriot air and missile defense system. The seven-year contract supports the sustained production of the PAC-3 Missile Segment Enhancement interceptor, a key component of the US layered air and missile defense architecture. The agreement reflects the growing demand for advanced air defense interceptors among the US and its international partners. According to the Huntsville Business Journal, the contract has a total cumulative face value of $58,620,843,289 and is expected to improve planning certainty for the Army, Lockheed Martin, and the industrial supply chain.